INTC is trading at $124.89 (-3.6%) as the stock takes a breather and investors take profits following a significant rally on major company-specific news.
- The recent surge was driven by reports of a preliminary agreement for Intel to manufacture chips for Apple, a major strategic win for its foundry business.
- Shares had gained over 50% in the preceding two weeks, fueled by a turnaround story centered on AI demand and its foundry ambitions.
- Broader market caution ahead of today's key CPI data release and potential supply chain risks from a Samsung labor strike may also be contributing to the pullback.